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| --- | --- | --- |
|   | (a) | Lessee shall give Lessor notice in writing (the “Termination Notice”) of its exercise of such right not less than twelve (12) months prior to the Early Termination Date,
which notice once given shall be irrevocable;  |

  




|  |  |  |
| --- | --- | --- |
|   | (b) | no Significant Default nor any Event of Default shall have occurred and be continuing on the date on which Lessee issues the Termination Notice or on the Early Termination Date; and
 |

  




|  |  |  |
| --- | --- | --- |
|   | (c) | upon receipt by Lessor of the Termination Notice given by Lessee in respect of the Aircraft, the “Expiry Date” of the Aircraft Lease Agreement shall be deemed to be the
Early Termination Date, and the Lease shall be deemed to have been so amended automatically, but all other provisions of the Lease shall remain in full and unvaried force and effect.  |

  




|  |  |  |
| --- | --- | --- |
|   | 2.5 | **Guarantee:** Lessee is required to provide a Guarantee by Guarantor in accordance with Section 5.15 of the Common Terms Agreement and a legal opinion of Lessee’s legal
counsel (who may be Lessee’s in-house legal counsel) in respect of the Guarantee in form and substance reasonably acceptable to Lessor. Contemporaneously with entering into this Aircraft Lease Agreement, Lessor is required to provide a
guarantee of Lessor’s obligations hereunder by AFSI. Lessor  |

  


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